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South African Expert Says Tax-Dodging Crypto Traders Face Heightened Jail Threat
13.8.2021
A South African tax expert, Thomas Lobban, has warned non-tax paying crypto traders that they now face possible jail time if the South African Revenue Services (SARS) decides to lay tax offense charges against them. He adds that this threat of jail time similarly applies to South African crypto...
Uniswap has now generated more than $1B in fees for liquidity providers
12.8.2021
More than $1 billion in fees have been generated for Uniswap’s liquidity providers since its November 2018 launch
Q2 Earnings Show Coinbase Raked in $2 Billion — Firm Forms Partnerships With Elon Musk, PNC Bank, Spacex
11.8.2021
Coinbase published the company’s shareholder letter on Tuesday which detailed it made over $2 billion in net revenue during the second quarter. The firm said “Q2 was a strong quarter” for Coinbase as it saw both “growth and diversification” this year. While netting...
Coinbase's Q2 profits top $1.6B as ETH volume surpasses BTC’s for the first time
11.8.2021
Coinbase beat analyst estimates in Q2, after it generated $2.23 billion in revenue compared to estimates of $1.78 billion
South Korean banks doubled crypto transaction fee revenue in Q2
10.8.2021
Shinban Bank, K bank and NH Nonghyup Bank reported a total revenue of 16.9 billion won coming out of partnerships with four crypto exchanges
US Government Has Seized Cryptocurrencies Worth $1.2 Billion So Far This Year
5.8.2021
The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime...
Cash App’s quarterly Bitcoin revenue triples despite BTC impairment loss for Square
2.8.2021
Jack Dorsey’s Square made more than 90% more gross profit than the same period last year, with $546 million coming from Cash App’s Bitcoin services
Senators add crypto taxes to infrastructure deal to raise $28B in extra revenue
29.7.2021
U.S. lawmakers believe they can find $28 billion worth of infrastructure funding by expanding taxation on crypto transactions
IRS Modifies Crypto Question on Tax Form — Now Focusing on Taxable Cryptocurrency Transactions
24.7.2021
The U.S. Internal Revenue Service (IRS) has modified the crypto question asked on the main U.S. tax form. Reducing the scope of the question, the IRS now focuses on taxable cryptocurrency transactions. New Crypto Question on Tax Form 1040 The IRS published a draft Form 1040 for the tax year 2021...
Bitcoin falls to sixth for daily revenue, with just 12% of Ethereum's fees
20.7.2021
Ethereum, Uniswap, Binance Smart Chain, and Aave are all beating out Bitcoin by daily fee revenue
Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors
19.7.2021
Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%....
NIFTSY, an NFT Venture, Credits $1M in Revenue Profits
19.7.2021
NIFTSY, developed by the NFT ecosystem, is established to enhance liquidity and royalty functionalities. NIFTY has enhanced its offerings through NFT to administer security rooted and a cross-chain mandate that identifies profitable crypto values. Recently it publicly declared that it has earned...
Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage
17.7.2021
Reports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval. As a consequence of these tweaks, crypto arbitrage traders...
New York Giants’ Saquon Barkley Plans to Convert Endorsement Revenue to Bitcoin
15.7.2021
Another pro athlete in the National Football League (NFL) is planning to convert some of his earnings into bitcoin. The 24-year-old running back for the New York Giants, Saquon Barkley, discussed converting his endorsement revenue into bitcoin during a recent interview with the Morgan Creek Digital...
NCLA Files Appeal Against the IRS — Law Firm Claims Tax Agency Unlawfully Seizes Crypto Data of Thousands
10.7.2021
On Friday, the public interest law firm New Civil Liberties Alliance (NCLA) filed an opening brief in the cryptocurrency case of James Harper v. Charles P. Rettig. The NCLA argues that Harper’s Fourth and Fifth Amendment constitutional rights were violated by the Internal Revenue Service...
123-Year-Old Hydroelectric Plant Sees New Life Mining Bitcoin — Revenue 3x Higher Than Selling to the Grid
9.7.2021
On Thursday local reports from Mechanicville, the city located in Saratoga County, New York, say that an old hydroelectric plant constructed back in 1897 was almost dismantled, but today the plant is mining bitcoins. The Mechanicville facility is considered one of the oldest renewable energy plants...
Bitcoin miner revenue jumps by 50% in 4 days since record difficulty drop
7.7.2021
It's a tale of two Bitcoins as active miners reap the benefits while others remain completely offline
ETH 2.0 Contract Exceeds 6 Million Ether, Data Shows Ethereum Outperformed BTC in Q1 and Q2
2.7.2021
Statistics show that the Ethereum 2.0 deposit contract has exceeded 6 million ether this week as more than $12.4 billion worth of ethereum is held in the contract today. Onchain metrics show that Ethereum has seen some significant drawdowns in recent times and decentralized finance (defi) activity...
Robinhood IPO Filing Reveals $88 Billion in Cryptocurrency Trading, Dogecoin 34% of Crypto Revenue
2.7.2021
Robinhood’s IPO prospectus shows that 9.5 million customers traded $88 billion of cryptocurrency on its platform in Q1 and the company held approximately $12 billion in crypto assets under custody, a 23-fold increase from last year. Meanwhile, 34% of Robinhood’s cryptocurrency revenue...
Socios partners with Turkish soccer club union to explore digital revenue models
1.7.2021
Turkey’s union of soccer clubs partners with Socios to improve fan engagement in the Turkish Süper Lig through technology and innovation